BAI Capital is a China-focused venture capital fund that spun out from global media conglomerate Bertelsmann, giving it direct access to Bertelsmann's global media, education, and services ecosystem—an uncommon level of strategic corporate backing for a regional VC fund. The fund focuses on a dual mandate of backing Chinese companies that can export China's technology and supply-chain advantages globally, plus cross-cycle bets on China's structural shifts like frontier infrastructure technology and industrial upgrades.